On September 24, 2021, the 10th China International Energy Storage Conference was held in Shenzhen. The conference was jointly organized by China's chemical and physical power industry and more than 200 institutions.

There were more than 1,600 attendees at the conference, which gives you an idea of how hot this space is for energy storage.

"There is too much business this year," said one company representative at the expo. It is understood that the explosive growth of business is mainly due to the demand for new energy generation.

As a flexible resource for power regulation, energy storage can alleviate the contradiction of renewable energy exhaustion to a certain extent and ensure the safe operation of power grid. In terms of policies, up to now, more than 10 provinces have issued energy storage policies to encourage the allocation of renewable new energy.

An enterprise representative said: "In 2018, there was a big explosion of power grid energy storage. Affected by the policy, power grid energy storage reached a stalemate in 2019. Now new energy has opened another breakthrough."

The energy storage industry has been on the upswing in recent years. According to the statistics of the industry association, in 2019, the cumulative installed capacity of global battery energy storage reached 9.52GW, and the newly put battery energy storage capacity reached 2.89GW that year. In the past five years (2015-2019), the global installed capacity of battery energy storage grew at a compound rate of 65.4%. By the end of June this year, the cumulative installed capacity of China's new electrochemical energy storage reached 1,831MW, an increase of 53.9% compared with the same period last year.

Liu Yanlong, Secretary-General of China Chemical and Physical Power Supply Industry Association, said that "with the transformation of new energy, energy storage as its core technology and disruptive technology, the market demand is further" with the great development of energy emission, energy efficiency improvement and new and renewable energy, with the power system, energy storage system to the direction of intelligent, intelligent, efficient and clean, And the progress of energy storage technology, energy storage has been included in the national top-level design and planning.

This is a trillion-level industry. According to the research report of brokerages, the market size of energy storage is estimated to be tens of billions from the power generation side, and the energy storage market is estimated to be hundreds of billions from the power grid side. If measured from the user side, the market will reach trillion-level. In the face of such a huge cake, a number of listed companies have already carried out depth layout.